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Collection Accounts Series #2, Collection Agencies

Collection Accounts Series #2

 

A new collection agency account hitting your credit report will cost an otherwise perfect credit report 65 to 125 FICO points. This is true of mortgage-type FICO scores, the type of credit score we know by far the most about.

Take-away: Paying the collection account does NOT raise mortgage-type FICO credit scores. Paying could possibly drop your FICO credit scores up to 60 points. More will be explained later in this Series.

We have about 97% success getting collection agencies accounts deleted permanently from ALL Credit Reporting Agencies.

Collection Accounts Series #1

Different types of Collection Accounts

 

Collection Agencies are companies which collect for other companies or people who are owed a debt. Other types of collection accounts are:

  • Student loans in “default”, the person who owed the money stopped paying
  • Charged-off accounts, this type of collection account will have it’s own Series of social media posts. Charged-off accounts are usually credit cards a person stopped paying but could also be loans paid with the same payment amount monthly.
  • “Debt buyer” collection accounts. These companies buy “bad debt” also known as defaulted debt from other companies and try to collect.
  • Vehicle repossession collection accounts, these are also “charged-off accounts like the sentences above.
  • Taxes unpaid to a government agency whether it is a local government, county, state or federal debt that is owed.

At 740Plus, We have about 97% success getting collection agencies accounts deleted permanently from ALL Credit Reporting Agencies.

$47,042 settled for $3,200 + Deletions

I love working on debt buyers’ collection accounts. I’m your mercenary destroyer of debt buyers.

I sneak behind enemy lines, gather intelligence and then get great discounts and sometimes 100% wipe-out the debt AND I get the all-important 3-Reporting Agency credit report deletions.

As millions of Americans have found out the hard way, paying a collection account either does not raise credit scores a single point or can drop them up to 60 points when the collection account is significantly older than the next oldest open account.

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Escallate LLC, a Collection Agency

The deletion is everything to your credit scores so below is how to potentially get it. See the bottom for what I know about this collector. MOST IMPORTANT: Never, ever pay a collection agency without getting a written promise to delete the account from your credit first.

Why?You don’t pay a Collection Agency without a written promise to delete first because after you pay your FICO credit scores will NOT go up a single FICO point as millions of Americans have found out the hard way.

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EOSCCA “EOS CCA” “Collection Company of America”, a Collection Agency

The deletion is everything to your credit scores so below is how to potentially get it.

MOST IMPORTANT: Never, ever pay a collection agency without getting a written promise to delete the account from your credit first.

Why?You don’t pay a Collection Agency without a written promise to delete first because after you pay your FICO credit scores will NOT go up a single FICO point as millions of Americans have found out the hard way.

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“Ent Rec Sys” per Credit, Enterprise Recovery Systems, a Collection Agency

How do you deal with a Collection Agency on your credit reports? MOST IMPORTANT: Never, ever pay a collection agency without getting a written promise to delete the account from your credit first.

Why?You don’t pay a Collection Agency without a written promise to delete first because after you pay your FICO credit scores will NOT go up a single FICO point as millions of Americans have found out the hard way.

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First time ever this company deleted!

I’ve been working on a difficult account for quite awhile.

Today I received my 3rd call from the external lawyer of the company on credit, a mini-storage chain. Big time lawyer, he works for an international law firm, New York office.

Let me tell you that this lawyer really studied up on the laws I use to get difficult deletions. He read the 100-page contract his client has with Experian. IT DOES NOT ALLOW DELETION unless the account was in-error. It specifically says “No pay for delete”, no “pay for deletion”. I KNEW that was in the contracts.

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Dynamic Recovery Solutions, DRS, a Collection Agency

MOST IMPORTANT: Never, ever pay a collection agency without getting a written promise to delete the account from your credit first.

Why?You don’t pay a Collection Agency without a written promise to delete first because after you pay your FICO credit scores will NOT go up a single FICO point as millions of Americans have found out the hard way.

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